UAW GM Council Approves 299-25 Concession Pact
The United Auto Workers General Motors Council approved a 30 month contract with wage and benefit concessions to save GM 3 billion, rescue four plants, and protect thousands of jobs. The decision followed Ford's pact, with ratification expected by April 10 and possible ballot start April 1.
MENTIONED IN THIS ARTICLE
United Auto Workers
Douglas Fraser
Owen Beiber
General Motors
Chicago
UPI
United Auto Workers General Motors Council
UAW
Owen Bieber
Ford Motor Co
Fraser
Regan Hints Modifications To Tax Leasing Provisions
Treasury Chief Regan said the administration may propose changes to the $19.3 billion tax leasing provisions after further study. The delay in releasing a full report on 1981 leasing benefited firms like IBM and Standard Oil of Indiana, while Congress pressures for curbs or retroactive repeal amid debt-limit talks.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury
Donald Regan
Treasury Department
Department
Regan
Capitol Hill
Congress
Robert Dole
Kansas
Senate Finance Committee
Sam Nunn
Georgia
General Electric
John Chapoton
Senate
Charles Powers
Market extends rally amid uncertainty on Wall Street
UPI reports a solid market rally despite economic uncertainties as the Dow gains 4.29 to 827.63 while the NYSE index climbs to 65.15 and the S&P 500 at 113.21. Advances lead declines 850 to 586 with 51.97 million shares traded. Delta Airlines and Pan American among active issues. AT&T antitrust talks influence sentiment.
MENTIONED IN THIS ARTICLE
New York
UPI
Standard & Poor
Gulf Oil
Canada
Integrated Energy
Wang Laboratories
National Association of Securities Dealers
Money market funds hit new record assets in week ended March 24
Money market mutual fund assets rose by 2.4 billion in the week to March 24 the largest weekly gain of the year lifting total to a record 192.1 billion. The ICI reported funds now exceed 190 billion for the first time while fund yields held around 13.5 percent.
MENTIONED IN THIS ARTICLE
New York
UPI
Investment Company Institute
Washington-based Industry Association
Donoghue
Money Fund Report
Holliston
Mass
BATUS sues to block Marshall Field sale in Delaware suit
BATUS Inc. accuses Marshall Field & Co. of an unfair 25.50 per share bid to sell the Chicago department store chain. Hannah Finkel, a Marshall Field stockholder, filed the class action in Delaware Chancery Court aiming to halt the transaction.
MENTIONED IN THIS ARTICLE
New York
UPI
Batus Inc
Britain
B.A.T. Industries Ltd
Hannah Finkel
Marshall Field & Co
Delaware Chancery Court
Marshall Field
BATUS
Court halts CBOE option plan on Ginnie Mae certificates
The 7th U.S. Circuit Court of Appeals ruled 2 to 1 against the Chicago Board of Options Exchange plan to trade options on Government National Mortgage Association certificates, over SEC approval. The decision leaves open whether to seek Supreme Court review.
MENTIONED IN THIS ARTICLE
Chicago
UPI
Chicago Board of Trade
Chicago Board of Options Exchange
U.S. Circuit Court of Appeals
Securities and Exchange Commission
CBOE
Boeing chief takes pay cut as profits dip
Boeing Co. Chairman T. A. Wilson took a quarter-million dollar pay cut last year yet earned 957,550 in cash and other remuneration. The proxy shows several top executives earned less in 1981 than 1980 due to a drop in Boeing stock price reducing stock option value. E. H. Boullioun, senior vice president, earned 689,898 versus 1.3 million the year before.
MENTIONED IN THIS ARTICLE
Seattle
UPI
Boeing Co
T. A. Wilson
Boeing
E. H. Boullioun
Banks of Iowa plans proxy vote on merger and new shares
Banks of Iowa stockholders will vote April 15 at Fort Des Moines Hotel on a plan to merge with First Bank System of Minneapolis and to issue 1 million Class B shares plus authorize 1 million preferred shares. The proposal would allow future asset purchases and a potential acquisition price based on book value.
MENTIONED IN THIS ARTICLE
Banks of Iowa
Des Moines
Fort Des Moines
First Bank System of
Minneapolis
First Bank
Ben Schwartz
Iowa
FSB
Suit Accuses Clinton Godfather’s of Unlicensed Song Plays
Broadcast Music Inc filed in Davenport federal court against T I Investments operator of the Clinton Godfather’s Pizza seeking statutory damages and costs for songs played on the in house jukebox without authorization. Illowa Music and Games claims responsibility for the jukebox and the records played. Gloriana Sullivan confirmed receipt of the suit and forwarded it to the jukebox vendors. Steve Gendreau stated Illowa is responsible for the jukebox and its music.
MENTIONED IN THIS ARTICLE
Clinton
Godfather’s Pizza
Godfather’s
Broadcast Music, Inc
New York
U.S
Davenport
T.I. Investments, Inc
Another cut at C R plant in Cedar Rapids
The workforce at Iowa Manufacturing in Cedar Rapids will drop by 75 in March. After actions, total jobs in the Cedar Rapids operations including plant, office and foundry will be about 625. The plant returns to a five day week. some office staff stay on four days. The plant had about 1,275 workers in early 1980.
MENTIONED IN THIS ARTICLE
Iowa
Cedar Rapids
the Gazette
General Mills Earnings Rise Fueled by Core Operations
General Mills reported a 38.7 percent rise in earnings per share to 86 cents for the quarter ended February 28, with nine month profit at 3.66 per share. Net income reached 43.5 million on sales of 1.234 billion, aided by a lower tax rate though management cited operating gains especially in consumer food and restaurant profits. The Cedar Rapids cereal plant and Red Lobster and York's Steak House restaurants are among the company’s operations.
MENTIONED IN THIS ARTICLE
Minneapolis
UPI
General Mills Inc
Bruce Atwater
Cedar Rapids
General Mills
Red Lobster
York’s
Also Mentioned on This Page
GM Council
Roger Smith
Smith
Bieber
Flint
Mich
IBM
Standard Oil
Indiana
Congressional
Delta Airlines
Trans World
First Boston Corp
Exxon
Dana Corp
American Telephone & Telegraph
Justice Department
At&t
RCA
International Telephone & Telegraph
Petrolane Inc
Digital
Dakota City, Neb
Iowa Beef Processors
Fort Dodge
Dakota City
Interstate Commerce Commission
Norfolk & Western Railway
Southern Railway System
Norfolk Southern Corp
District of Columbia
Norfolk & Western
Southern
Oakville
Detroit
General Motors Corp
Fujitsu Fame Ltd
Japan
Michigan
Fujitsu Fame
Banks of
Godfather
C.R. Plant
Gateway Gardens
6Th Street
S.W
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